Ashok Leyland Announces Non-Working Days For December
Hinduja Group flagship Ashok Leyland Ltd. said the company proposes to observe non-working days in a few plants in December to align production at its facilities in line with market demand.
"We hereby inform you that in order to align production in line with the market demand for our products, the company proposes to observe non-working days ranging 2-12 days in few plants during December 2019", Ashok Leyland said in a filing.
The city-based commercial vehicle maker has been adjusting production at its facilities over the last few months following the automobile slowdown. Several automobile firms including Maruti Suzuki India Ltd., Hero MotoCorp Ltd., TVS Group firm Sundaram-Clayton Ltd. had announced similar non-working days in the past.
According to Society of Indian Automobile Manufacturers data, total domestic commercial vehicle sales fell 22.95 percent to 3,75,480 units in April-September period 2019 as against 4,87,319 units in corresponding period of last fiscal. Ashok Leyland had recorded a 22 percent decline in the sale of total commercial vehicle at 10,175 units in November.
The company had sold 13,119 units in same month of last year. Shares of the company were trading at Rs 77.50 apiece down by 0.19 percent over previous close in BSE.